gsm8k-0002

# GSM8K Problem 3

Josh decides to try flipping a house.  He buys a house for $80,000 and then puts in $50,000 in repairs.  This increased the value of the house by 150%.  How much profit did he make?

Reason step by step, then give ONLY the final answer on the last line as \boxed{ANSWER}.

<!-- imported from openai/gsm8k (test) -->

First, calculate Josh's total investment in the house:
Purchase price + Repair cost = $80,000 + $50,000 = $130,000.

Next, determine the new market value of the house. The problem states the repairs increased the value by 150%. This percentage applies to the original purchase price:
Increase in value = 150% of $80,000 = 1.5 × $80,000 = $120,000.
New value = Original price + Increase = $80,000 + $120,000 = $200,000.

Finally, calculate the profit by subtracting the total cost from the new value:
Profit = New value - Total cost = $200,000 - $130,000 = $70,000.

\boxed{70000}